{"id":114647,"date":"2023-11-30T12:34:08","date_gmt":"2023-11-30T07:04:08","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=114647"},"modified":"2023-11-30T13:21:07","modified_gmt":"2023-11-30T07:51:07","slug":"cement-stock-in-green-after-company-acquired-assets-from-burnpur-cement-for-169-8-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/cement-stock-in-green-after-company-acquired-assets-from-burnpur-cement-for-169-8-cr\/","title":{"rendered":"Cement stock in green after company acquired assets from Burnpur Cement for \u20b9 169.8 Cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3831461494\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The large-cap share rose 2.6 percent hitting its 52-week high of Rs 8,960 from its previous close of Rs 8732.75 on Tuesday after the company announced the acquisition of assets from one the largest cement manufacturers in Eastern India.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3369596885\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Ultratech Cement Ltd has acquired the 0.54 mtpa cement grinding assets of Burnpur Cement Limited in Patratu, Jharkhand, for Rs.169.79 crores in accordance with the provisions of the Securitization and Reconstruction of Financial Assets Act.&nbsp;<\/p><p>This is the Company&#8217;s first investment in the state of Jharkhand. The current capacity of Ultratech Cement Company in India is 133 mtpa.&nbsp;<\/p><p>According to the UltraTech Cement Limited report, the net revenue increased by 15 percent year over year, from Rs 13,892.69 crore in Q2FY23 to Rs 16,012.13 crore in Q2FY24. Their revenue fell by 9.7 percent sequentially from Rs 17,737.10 crore in Q1FY24 to the current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1759777292\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>In addition, the company&#8217;s net profit rose by 69 percent year over year, from Rs 758.70 crores in Q2FY23 to Rs 1,280.38 crores in Q2FY24. Their profit decreased by 24 percent on a quarterly basis from Rs 1,690.22 crore in Q1FY24 to the current levels.&nbsp;<\/p><p>The company&#8217;s promoters hold a 60 percent stake in the company, with 16.6 percent owned by foreign institutional investors, 8 percent owned by the general public, and 15.4 percent owned by domestic institutional investors.&nbsp;<\/p><p>UltraTech Cement Limited is a large-cap company with a market capitalization of Rs 2,56,000 crores. The share price of UltraTech Cement Limited has increased by 13 percent in the last six months and 26.6 percent in the year to date.&nbsp;<\/p><p>Furthermore, the company&#8217;s debt-to-equity ratio of 0.18 is low, return on equity (ROE) of 9.7 percent and a return on capital employed (ROCE) of 13 percent.&nbsp;<\/p><p>UltraTech Cement Limited is the Aditya Birla Group&#8217;s cement flagship company. UltraTech is India&#8217;s largest producer of grey cement, ready mix concrete (RMC), and white cement.&nbsp;<\/p><p><strong>Written by Sriram KV<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-179520388\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-4078658422\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The large-cap share rose 2.6 percent hitting its 52-week high of Rs 8,960 from its previous close of Rs 8732.75 on Tuesday after the company announced the acquisition of assets from one the largest cement manufacturers in Eastern India.&nbsp; Ultratech Cement Ltd has acquired the 0.54 mtpa cement grinding assets of Burnpur Cement Limited in [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-114647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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